# Leave-One-Out Robustness — Rating Model

Baseline Z₁ coefficient: 15.9871 (p=0.0071)

- Z₁ range across LOO: [14.2307, 19.2106]
- Mean LOO Z₁: 15.9882
- Significant at 5%: 79/79 (100%)
- Significant at 10%: 79/79 (100%)

## 10 Most Influential Countries

| Dropped | Z₁ Coef | Change | p-value | Sig |
|---|---|---|---|---|
| QAT | 19.2106 | +3.2235 | 0.0037 | *** |
| BHR | 17.9043 | +1.9172 | 0.0035 | *** |
| IRL | 14.2307 | -1.7564 | 0.0154 | ** |
| UKR | 17.5296 | +1.5425 | 0.0028 | *** |
| SAU | 14.6731 | -1.3139 | 0.0144 | ** |
| TUN | 15.0296 | -0.9575 | 0.0115 | ** |
| THA | 15.2163 | -0.7708 | 0.0101 | ** |
| CHN | 16.7286 | +0.7416 | 0.0048 | *** |
| ESP | 15.2579 | -0.7292 | 0.0096 | *** |
| CYP | 15.2960 | -0.6911 | 0.0066 | *** |

## Full LOO Results

| Dropped | Z₁ Coef | SE | p-value | Sig | N |
|---|---|---|---|---|---|
| QAT | 19.2106 | 6.6190 | 0.0037 | *** | 2027 |
| BHR | 17.9043 | 6.1287 | 0.0035 | *** | 2026 |
| IRL | 14.2307 | 5.8712 | 0.0154 | ** | 2019 |
| UKR | 17.5296 | 5.8554 | 0.0028 | *** | 2025 |
| SAU | 14.6731 | 5.9894 | 0.0144 | ** | 2034 |
| TUN | 15.0296 | 5.9426 | 0.0115 | ** | 2026 |
| THA | 15.2163 | 5.9106 | 0.0101 | ** | 2020 |
| CHN | 16.7286 | 5.9319 | 0.0048 | *** | 2025 |
| ESP | 15.2579 | 5.8849 | 0.0096 | *** | 2014 |
| CYP | 15.2960 | 5.6285 | 0.0066 | *** | 2025 |
| GHA | 15.3546 | 5.9447 | 0.0099 | *** | 2027 |
| JAM | 15.3704 | 5.8916 | 0.0092 | *** | 2024 |
| GRC | 15.3813 | 5.7516 | 0.0076 | *** | 2015 |
| COL | 15.4021 | 5.9413 | 0.0096 | *** | 2020 |
| JPN | 16.5541 | 6.0681 | 0.0064 | *** | 2014 |
| ITA | 16.5403 | 5.9667 | 0.0056 | *** | 2014 |
| TTO | 15.4633 | 5.9787 | 0.0098 | *** | 2024 |
| KOR | 15.5706 | 5.9206 | 0.0086 | *** | 2019 |
| BRA | 15.6090 | 5.9332 | 0.0086 | *** | 2025 |
| NGA | 15.6268 | 5.9970 | 0.0092 | *** | 2030 |
| PRT | 16.3433 | 5.9588 | 0.0061 | *** | 2014 |
| OMN | 16.3430 | 6.0720 | 0.0072 | *** | 2031 |
| SLV | 16.3091 | 5.9750 | 0.0064 | *** | 2024 |
| KAZ | 16.2981 | 6.0120 | 0.0068 | *** | 2026 |
| DOM | 15.6829 | 5.8354 | 0.0073 | *** | 2025 |
| EGY | 15.7149 | 5.9518 | 0.0083 | *** | 2023 |
| ISR | 16.2428 | 5.9439 | 0.0063 | *** | 2024 |
| CRI | 16.2364 | 5.9599 | 0.0065 | *** | 2026 |
| RUS | 15.7503 | 5.6663 | 0.0055 | *** | 2022 |
| HND | 16.2178 | 5.9871 | 0.0068 | *** | 2028 |
| SGP | 15.7591 | 5.9771 | 0.0084 | *** | 2019 |
| FIN | 16.2125 | 6.0177 | 0.0071 | *** | 2014 |
| ARE | 15.7636 | 5.9758 | 0.0084 | *** | 2031 |
| CHL | 16.2031 | 5.9814 | 0.0068 | *** | 2019 |
| ROU | 16.1917 | 5.9633 | 0.0067 | *** | 2024 |
| NAM | 16.1847 | 5.9690 | 0.0068 | *** | 2029 |
| ARG | 15.7928 | 5.7652 | 0.0062 | *** | 2017 |
| PHL | 15.7947 | 5.9784 | 0.0083 | *** | 2017 |
| PAK | 15.8043 | 5.9618 | 0.0081 | *** | 2018 |
| MEX | 15.8055 | 5.9699 | 0.0082 | *** | 2020 |
| GTM | 16.1557 | 6.0037 | 0.0072 | *** | 2025 |
| KWT | 15.8193 | 7.1473 | 0.0270 | ** | 2015 |
| BWA | 16.1505 | 5.9720 | 0.0069 | *** | 2025 |
| USA | 16.1477 | 5.9635 | 0.0068 | *** | 2025 |
| CIV | 16.1393 | 5.9595 | 0.0068 | *** | 2039 |
| SEN | 15.8351 | 5.9906 | 0.0083 | *** | 2024 |
| URY | 16.1298 | 5.9517 | 0.0068 | *** | 2023 |
| BGD | 16.1202 | 5.9677 | 0.0070 | *** | 2034 |
| IDN | 16.1060 | 5.9583 | 0.0069 | *** | 2024 |
| KEN | 15.8685 | 5.9772 | 0.0080 | *** | 2030 |
| SWE | 15.8712 | 5.9911 | 0.0081 | *** | 2017 |
| CAN | 16.0809 | 5.9818 | 0.0072 | *** | 2014 |
| HUN | 16.0794 | 5.9545 | 0.0070 | *** | 2020 |
| IND | 15.8962 | 5.9912 | 0.0080 | *** | 2015 |
| NZL | 16.0772 | 5.9909 | 0.0073 | *** | 2014 |
| ZAF | 16.0768 | 5.9824 | 0.0073 | *** | 2024 |
| PER | 15.8989 | 5.9698 | 0.0078 | *** | 2024 |
| DNK | 16.0705 | 6.0147 | 0.0076 | *** | 2016 |
| HKG | 15.9097 | 5.9753 | 0.0078 | *** | 2028 |
| LKA | 15.9115 | 5.9049 | 0.0071 | *** | 2029 |
| MUS | 15.9165 | 5.9692 | 0.0077 | *** | 2028 |
| NLD | 16.0570 | 6.0079 | 0.0076 | *** | 2014 |
| AUS | 16.0510 | 5.9779 | 0.0073 | *** | 2014 |
| MAR | 16.0502 | 5.9684 | 0.0072 | *** | 2031 |
| AZE | 16.0478 | 6.0080 | 0.0076 | *** | 2029 |
| CZE | 16.0477 | 5.9874 | 0.0074 | *** | 2020 |
| AUT | 15.9305 | 5.9910 | 0.0079 | *** | 2014 |
| GBR | 16.0399 | 5.9805 | 0.0074 | *** | 2014 |
| NOR | 16.0270 | 5.9920 | 0.0075 | *** | 2014 |
| POL | 16.0194 | 5.9777 | 0.0074 | *** | 2019 |
| TUR | 16.0168 | 5.9479 | 0.0071 | *** | 2024 |
| PAN | 15.9643 | 5.9734 | 0.0076 | *** | 2024 |
| VNM | 16.0068 | 6.0046 | 0.0077 | *** | 2026 |
| BEL | 16.0058 | 5.9865 | 0.0076 | *** | 2014 |
| DEU | 16.0051 | 5.9998 | 0.0077 | *** | 2015 |
| MYS | 15.9782 | 5.9528 | 0.0073 | *** | 2014 |
| CHE | 15.9799 | 5.9792 | 0.0076 | *** | 2020 |
| JOR | 15.9894 | 5.9843 | 0.0076 | *** | 2027 |
| FRA | 15.9882 | 5.9875 | 0.0076 | *** | 2014 |